Not a response to the question posed.
No then if the money supply doubled, the purchasing power of each dollar would remain the same? I find that hard to believe, and yet, seems what you are proposing here.
Yes, when more dollars are chasing after the same goods and services, the price of those goods and services go up, so in effect the purchasing power of those dollars, their value, goes down.
This seems to make good sense.
You want to panacea like blame it all on COVID. Seriously? That position doesn't hold much credibility with me. What of all the 'Our economy is doing great' cheering over the last year? Just so much more political gaslighting would be my guess.
All I know is that inflation is eating away at my purchasing power, deflating the value of my retirement nest egg, my pay check, my bank account balance.
I also know the Fed run the monetary system which was ****ing invented to manage shit like this, and they clearly aren't.
Biden and his anti-oil policies make each trip to the gas station a new PITA.
So much for government being efficient or effective at what should be their core competencies, so failing performance as usual. Vote all the bums out. ****'em all.
And, yes, I'm pissed off. And, yes, I'll take it out on the Democrats when I enter the voting booth for both midterms and in 2024. You can chose to agree or disagree, I really don't care.
